Figma, a company that makes design software, said on Tuesday that it has secretly given the government the papers to sell shares to the public. We will learn more when these papers are made public, which could happen in about a month if everything goes well.

However, because the stock market is very unstable, changing with every new trade decision from the Trump government, trying to start a company on the stock market now is unexpected, even just considering it. Klarna and StubHub, two potentially very big technology companies that were planning to do this last month, both stopped their plans in early April after the stock market fell because of news about taxes on imports. They have not yet made new plans.

Figma is getting ready to sell shares to the public, but it might not happen as fast as usual. Usually, this takes about four to six weeks after they have sent in the private documents.

Figma, a company that makes software for designers to work together, was worth $12.5 billion in May 2024. This value was reached after they let shareholders sell some of their shares. Adobe wanted to buy Figma for $20 billion, but the deal did not happen in 2023 because regulators in Europe and the United States were against it.

Several investment companies, including Sequoia Capital, Index Ventures, Greylock, and Kleiner Perkins, support the company. People who invest in these companies and others like Andreessen Horowitz and IVP are on the company's board.

Figma refused to provide additional commentary.